C R Financial Services
Little Orchard, Gibraltar Lane, Laceby, N E Lincolnshire, DN7 7AU
Terms of Business Letter
June
2005
1. This Terms of Business letter sets out the basis on which we will conduct business with
you and on your behalf. It is an important document and we would ask you to read it
carefully and if you are unsure of any of its terms please ask.
2. These Terms come into force immediately on issue and remain in force until further
notice.
3. C R Financial Services is an appointed representative of Financial Ltd, which is
authorised & regulated in the conduct of investment business, mortgages & general
insurance by the Financial Services Authority.
4. FINANCIAL PLANNING OBJECTIVES
In order to provide you with personal advice and recommendations suitable for your
particular circumstances we will undertake a 'fact find' to gather the appropriate
information. We will then be able to set out clearly your financial planning objectives.
5. On the basis of the information you have provided to us we have classified you, in
accordance with FSA rules, as a Private Customer.
6. Unless you inform us whether there are any restrictions as to the type of investment,
general insurance or mortgage or their markets on which you want advice, we will only
provide that advice on investments, general insurance or mortgages within our
authorisation and that we believe are suitable for you. We will not provide any service
relating to futures, options or contracts for difference.
7. We provide advice on investments, general insurance and mortgages and arrange
transactions in these products. We may also include unregulated collective investment
schemes where these are suitable for you.
8. We will provide you with an "Initial Disclosure Document", in accordance with
FSA rules.
9. For investment business, we will provide you with a "Fees & Commission
Menu", in accordance with FSA rules, which sets out how we will be remunerated either
by fee, commission or a combination of both.
10. You will receive from the life office or operation in question information about the
commission we receive. We will also tell you the amount of commission payable to us on all
contracts. All trail or renewal commission payable by providers belongs to the company.
11. The advice we provide to you on all contracts is INDEPENDENT and whole of market.
12. We require our clients to give us instructions in writing, to avoid possible disputes.
This will usually be in the form of a proposal or application form. We will, however,
accept oral instructions in certain instances provided they are subsequently confirmed in
writing.
13. For your protection WE DO NOT HANDLE CLIENTS' MONEY. In respect of premiums, we never
accept a cheque made out to us or handle cash.
14. We will make arrangements for all your investments/contracts to be registered in your
name unless you first instruct us otherwise in writing.
15. You hereby acknowledge that in the event of C R Financial Services assisting you in
the completion of any investment application or policy proposal forms that you will in any
event continue to bear full responsibility for the accuracy and completeness of the
information entered on such forms. Therefore you understand that inclusion of incorrect
information or omission of any material facts may result in the investment or policy to
which the application or proposal relates to being adversely adjusted, made void and/or
any claim(s) made against it being refused.
16. We will forward to you all documents showing ownership of your investments/contracts
as soon as practicable after we receive them.
17. CANCELLATION RIGHTS. You will not have any cancellation rights for ISAs or PEPs, which
are not invested in packaged products. Nor will you have cancellation rights for execution
only transactions in authorised unit trusts & OEICs whether or not in an ISA or PEP.
18. In respect of any regular premium policy which we may recommend, should you
subsequently cease to pay premiums on the policy and in consequence we are obliged to
refund the commission that has been paid to us we reserve the right to charge you a fee
representing the amount we have to repay, for a period of up to four years after
commencement of the policy. We will not charge the fee if you exercise your right to
cancel in accordance with the cancellation notice sent to you by the life company. Details
of the commission payable will be notified to you in a specific key features illustration
prior to any transaction proceeding.
19. Unless you specifically request otherwise we may telephone or visit you during normal
social hours to offer you further advice or inform you of products and services in which
you may be interested.
20. We offer independent financial advice, but occasions can arise where we, or one of our
other customers, will have some form of interest in business, which we are transacting for
you. If this happens, or we become aware that our interests or those of one of our other
customers conflict with your interests, we will inform you in writing and obtain your
consent before we carry out your instructions. There may be occasions when we will be
unable to act for one of the parties.
21. RISK WARNINGS. The value of investments may go down as well as up, and you may not get
back the amount invested. Levels of income from investments may fluctuate and affect the
capital value of the investment. Non-readily realisable investments will generally have a
restricted market, and therefore it may be difficult to deal in that investment or to
obtain reliable information about its value.
22. You, or we, may terminate our authority to act on your behalf at any time, without
prejudice to the completion of any transactions already initiated, and without penalty.
Notice of this termination must be given in writing.
23. When we have arranged any investments, general insurance or mortgage contracts for you
we will not give you further advice unless you request it, but will be glad to advise you
at any time you ask us to do so. A formal review service is available by separate
agreement, details of which we shall be pleased to advise you.
24. We are registered under the Data Protection Act 1998. It is understood that we keep
personal and financial information with regard to your circumstances on file (electronic
and/or paper based) as required to be able to advise you as to your financial planning
needs. We confirm that this information will not be used, or transferred by us to any
other firm or company with the exception of Financial Ltd. We confirm that we cannot be
held responsible for the information held on your file becoming inaccurate due to your
change of circumstances if you fail to inform us of those changes.
25. We keep records of our business transactions for at least six years. We are required
to verify your identity in accordance with the Proceeds of Crime Act 2000 and the Money
Laundering regulations. We reserve the right to approach third parties and to delay any
applications until adequate verification of identity has been obtained.
|
Independent Financial Advice